S. Korea and Vietnam Shared Opinions towards Stronger Cooperation in Agriculture

 

Sejong, 12 July 2024 — On 2 July, H.E. Song Miryung, Minister of Agriculture, Food and Rural Affairs of the Republic of Korea met with H.E. Le Minh Hoan, Minister of Agriculture and Rural Development of the Socialist Republic of Vietnam in Seoul. At the meeting, Minister Song asked for Vietnam’s cooperation through which larger exports of Korean agri-food products and agricultural equipment can enter the Vietnamese market and Korean companies related with agricultural development can expand their business in Vietnam.

Vietnam is an important trading partner of South Korea in agriculture. Vietnam is the fourth largest importer of South Korean agri-food products, next to Japan, China, and the U.S., and ranks second in the volumes of imports of South Korean veterinary medicine and fertilizers. 

Minister Song asked Minister Hoan for his active cooperation in expanding South Korea’s exports of agri-food products and agricultural equipment to Vietnam, saying: “As the relationship of the two countries was elevated to a comprehensive strategic partnership in 2022, I sincerely hope that bilateral agricultural cooperation will be strengthened further.”  

In turn, Minister Hoan hoped for the Korean agriculture ministry’s multifaceted cooperation in enhancing Vietnam’s capabilities in smart farming and sustainable food systems, as well as in promoting the private sector’s investment in Vietnamese agriculture. In response, Minister Song said that the Korean agriculture ministry (MAFRA) would continue to provide support for Vietnam through official development assistance (ODA). Song added, “I hope that opportunities for Korean companies to participate in Vietnam’s agricultural and rural development will be expanded further.”